Retail Management Notes
Subject Overview
The fourth Marketing group elective, covering retailing's economic significance and evolution in India, types of retailers and retail development theories, store management and layout/
Subject at a glance
4
Units
26
Topics
4
Credits
4
Infographics
Unit-wise Syllabus
4 units — open any unit for detailed topic-wise notes, diagrams and important exam questions
- Economic significance and opportunities in retailing
- retail management decision process
- evolution of retail in India
- drivers of retail change and development challenges
- 1Understand the environment
Customers, competitors
- 2Develop retail strategy
Target market, format
- 3Implement the retail mix
Location, merchandise, pricing, service
- 4Control and evaluate
Study guide
This unit covers retailing's significance, the decision process, evolution in India, change drivers and challenges. Visit a mall and a local market to compare.
- Food retailers
- general merchandise retailers
- non-store formats
- services retailing
- types of ownership
- evolution of retail formats
- theories of retail development
- retail life cycle
- business models in retail
- 1. Innovation: New format, fast growth
- 2. Accelerated development: Rapid expansion
- 3. Maturity: Saturation, competition
- 4. Decline: Loss of share
Study guide
You study retail types, ownership, formats, development theories, the retail life cycle and business models. Place a retailer on the retail life cycle.
- Store management responsibilities
- recruiting/training/motivating store employees
- objectives of good store design
- store layout
- space planning and merchandise presentation
- atmospherics
Grid
Straight parallel aisles
Grocery, pharmacy
Racetrack (loop)
Main loop around the store
Department stores
Free-form
Fixtures in flowing patterns
Boutiques
Study guide
You study store management, employees, store design objectives, layout, space planning, merchandise presentation and atmospherics. Critique a store's layout.
- Strategic advantages through customer service
- GAPS model for improving retail service quality
- growing role of IT in retailing
- data mining
- database marketing
- business intelligence
- international retailing structures
POS systems
Billing and data capture
Database marketing
Loyalty and targeted offers
Data mining
Basket analysis
Business intelligence
Dashboards for decisions
Omnichannel
Store, web and app in one
Study guide
You study customer service as strategy, the GAPS model, IT, data mining, database marketing, BI and international retailing. Apply the GAPS model to a store.
Why Retail Management Matters
Retail is one of India's largest and fastest-growing sectors, with roles in store, category, merchandising and omnichannel operations.
How to Prepare for Retail Management
- Study the operations of a real retailer.
- Photograph good and poor store displays.
- Learn the main retail formats and KPIs.
Retail Management: Frequently Asked Questions
What is atmospherics in retail?
Atmospherics is the design of a store's environment, including lighting, music and layout, to influence shopper behaviour.